Warning: Ignore Bounces And Expect A Serious Acceleration To The Downside

Posted by Bill Fleckenstein via KingWorldNews.com

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As for stocks in general, the path of least resistance is going to be down. The question is will it be a grinding affair, will we see acceleration at some point, or will there be a bit of a bounce first? All three are possible, but my strongest belief is that any rebound at this point will be minor and eventually we will see real acceleration on the downside. Markets seem to liquidate now even faster than they have in the past, and they always have declined faster than they appreciate. If we look at the way oil and other commodities have been slaughtered, I think that is the recipe for how the stock market might behave as we move forward and the pressures to the downside build.”

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